The Australian dollar gained on its most-traded rivals today after the surprisingly good employment report boosted the currency. Australian employment climbed by 61,600 in November, more than three times the forecast increase of 18,100. It was the biggest gain since October 2015. The increase was mainly a result of growth in full-time jobs. What is more the participation rose from 65.2% to 65.6% — the highest level in more than 6 years. The unemployment … “Australian Dollar Boosted by Amazing Jobs Data”
Month: December 2017
USD: 3 Reasons Why US Tax Reforms A ‘Big Deal’ To Support USD In Early 2018 – BofAML
The United States Congress is getting closer to approving a deal on reconciling the tax bills and announcing a huge cut in taxes. How will it move the dollar? Here is the view from Bank of America: Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research discusses the impact … “USD: 3 Reasons Why US Tax Reforms A ‘Big Deal’ To Support USD In Early 2018 – BofAML”
EUR/USD Rallies Higher on US CPI Data Ahead of FOMC Decision
The EUR/USD currency pair today rallied to new highs during the early American session after the release of US CPI data by the Bureau of Labor Statistics. The currency pair had earlier dropped to new daily lows after an increase in US Treasury bond yields, which increased demand for the greenback. The EUR/USD currency pair rallied from a daily low of 1.1730 to hit a daily high of 1.1771 shortly after the release of the US CPI data. … “EUR/USD Rallies Higher on US CPI Data Ahead of FOMC Decision”
Pound Retreats from Daily Highs on Weak UK Labor Market Report
The British pound today retreated from daily highs set against the US dollar earlier in the European session after the release of the UK labour market report for December. The pound’s decline against the US dollar was triggered by the jobless claims count, which posted a surprising increase in November. The GBP/USD currency pair retreated from a high of 1.3368 set just before the release of the employment report to hit an intra-day low of 1.3332. The currency pair … “Pound Retreats from Daily Highs on Weak UK Labor Market Report”
Rand Gains on Dollar Despite Slowing South African Inflation
The South African rand gained on the US dollar today even though nation’s inflation slowed last month more than was expected by analysts. Statistics South Africa reported that annual inflation was at 4.6% in November, down from 4.8% in October. That was below the consensus forecast of 4.7%. Month-on-month, consumer prices rose by 0.1%. Yet the miss did not prevent the rand from joining currencies of other emerging … “Rand Gains on Dollar Despite Slowing South African Inflation”
Australian Dollar Fails to Maintain Rally, Losing Gains
The Australian dollar attempted to extend its rally today, but gains were limited, and the Aussie has lost them by now. Consequently, the currency was trading either flat or lower against its major rivals. The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% in December. The report commented on the reading: This is a surprisingly strong result and confirms the lift we have seen in the Index over the last three months. … “Australian Dollar Fails to Maintain Rally, Losing Gains”
NZ Dollar Extends Rally Fueled by RBNZ Governor Appointment
The New Zealand dollar extended yesterday’s rally today, rising for the third day in a row, as investors welcomed the news about the appointment of a new governor of the Reserve Bank of New Zealand. Yesterday, Finance Minister Grant Robertson appointed New Zealand Superannuation Fund chief Adrian Orr as a new RBNZ governor. Orr will take the post on March 27. Economists are a bit worried that the central bank will have limited capacity … “NZ Dollar Extends Rally Fueled by RBNZ Governor Appointment”
Australian Dollar Continues Move up, Shrugging off Negative Data
The Australian dollar managed to maintain yesterday’s gains and even accelerated its move to the upside today even though macroeconomic reports released in Australia during the current trading session were rather disappointing. The Australian Bureau of Statistics reported that the House Price Index fell 0.2% in the September quarter from the previous three months, while analysts had expected an increase by 0.6%. The business confidence reported by National Australia Bank fell from … “Australian Dollar Continues Move up, Shrugging off Negative Data”
USD/JPY: To 107 or 122? Two opinions
Dollar/yen had a well-defined range during 2017 and it is now heading towards the top of that range. Where will it go next? Here are two different opinions. Here is their view, courtesy of eFXnews: USD/JPY: Three Reasons For More Upside In 1H Of 2018 – BofA Merrill Bank of America Merrill Lynch FX Strategy … “USD/JPY: To 107 or 122? Two opinions”
Yuan Stable Despite Consumer Inflation Missing Expectations
The Chinese yuan was stable today even though consumer inflation data released over the weekend missed expectations. The Consumer Price Index increased 1.7% in November from a year ago. That was a lower reading than 1.8% promised by analysts and 1.9% registered in October. The Producer Price Index rose by 5.8%, within expectations but also slower than the October’s 6.9% rate of growth. USD/CNY was slightly down by 0.04% … “Yuan Stable Despite Consumer Inflation Missing Expectations”